The OECD and the CATO institute have both consistently ranked Canadian labour markets as some of the most flexible in the advanced capitalist world. Indeed, Canada ranks only second to the US on most stingy when it comes to labour market protections. Odd then, that the Conservatives have chosen labour
Continue readingTag: Canadian economy
From Democracy to Imperial Government: The Conservative War on Raw Facts Continues
It is not really a secret that our conservative government feels a certain unease about facts. Be they those facts which relate to the F35 costs or those facts which relate to major military undertakings like Libya. None of this should be surprising given the degree of contempt the government
Continue readingPolitics and Entertainment: a tiny glimpse into the ways our government serves the corporate and financial world, not the people of Canada
Some Key Areas Where Neoliberal Policy Undermines both the Industrial Economy and Canadian Democracy Under the Harper Regime, the investor class is constantly being protected at the expense of the real industrial economy, for just about all policy decisions privilege both the financial sector, with its market-driven initiatives and debt-driven
Continue readingImpolitical: Something missing all around
So I watched this 8 minute video version of Harper’s speech to caucus yesterday. It was, as many reports have recounted, packed with a consistent economic focus. Of course. He really doesn’t seem to enjoy talking about anything else and that’s the turf they want everyone focused on. But the
Continue readingPolitics and Entertainment: 14 economic advisors Flaherty consults on policy and budgets are all from the financial sector: Fiscal contraction doesn’t work
The 14 economic advisors Flaherty consults on policy and budgets are all from the financial sector, mostly banksters. Here’s what James K. Galbraith says about the implicit danger of such a stacked deck: “….economic policy should not be under the control of bankers, and any economic team which is dominated
Continue readingImpolitical: Flaherty’s no to the IMF
From Canadian Press last night: “Flaherty digs in heels on calls to pony up more bailout money for euro zone.” Jim is all talk to the hand, Eurozone: Finance Minister Jim Flaherty had some tough talk on Thursday for the 17 euro zone countries, saying Canada and other non-euro nations
Continue readingImpolitical: Late night
Pro-penny elimination video: Study that says consumers will be bitten: A 2001 economic analysis by Penn State’s Raymond Lombra found that a post-penny economy—in which we round to the nearest nickel—would probably hurt the poor disproportionately. In theory, rounding would balance itself out over time—with some transactions rounding up and
Continue readingCanadian Progressive World: Canadian family finances still under stress: Report
For many families in Canada, income security is an elusive dream, according to a new study released by the Vanier Institute for the Family. The report, The Current State of Canadian Family Finances, shows that income inequality is increasing. Canadian … Continue reading →
Continue readingBigCityLib Strikes Back: A Cheery Chart For A Friday Morning
Unions Not In Decline (Quite)! Time to slam a celebratory 6-pack in the parking lot, lads! Then its off to build cars.
Continue readingShould Ontario Become an Independent Country?
Ok just forget how crazy the questions sounds. The recent wrangling between Ontario and Alberta over the value of the Canadian dollar, oil output and the decline of manufacturing in Ontario (and other provinces east of Ontario) raises some reasonable … Continue reading →
Continue readingImpolitical: Mystery budget on its way
The budget date was set yesterday, finally, for March 29th, possibly as a bit of a distraction from all things robocall. This should be good: Flaherty said Wednesday the budget will not lay out in specifics where the government plans to find between $4 billion and $8 billion in annual
Continue readingImpolitical: Despite feds, Canada 7th in creating green-tech firms
A surprise given the Harper government’s not so green credentials: Canada ranks high because of an entrepreneurial culture, relatively high patent activity and existing corporate activity in the green-tech sector. But the federal government’s reluctance to support the industry is a drawback, the report says. Indeed, Canada’s rank is a
Continue readingImpolitical: More budget homework for Flaherty
This is a story that may have been glossed over in the past few days but is worth noting: “Rating Firms Question Canada's Planned Budget Cuts.” Two of the major ratings agencies, Moody’s and Fitch, are warning the Harper government away from large budget cutting plans: Steven Hess, Moody’s lead
Continue readingImpolitical: The "great shell game"
Come on in, the water’s warm! Yes to this Martin column today: “The myth of Tory economic performance.” Can the myth be sustained in coming years? Are times about to get rockier? Some headlines from today to consider: “Banks rolling back mortgage discounts,” “Customers feel the pinch as banks cut
Continue readingPolitics and Entertainment: Most Commentators and Economists Say Threshold Change for OAS is Unnecessary
Surveying recent media coverage including economists referenced or interviewed, one will discover that roughly 9 out of 10 commentators argue that the age threshold for OAS does not require changing to maintain sustainable funding for the program despite swelling seniors’ ranks and a decreasing Canadian population. Neither the argument that
Continue readingGordon V Jackson: the corporate tax cut myth
Apparently Stephen Gordon is having a hard time figuring out where Andrew Jackson, the chief economist for the CLC, got the bizarre idea that: The argument for corporate income tax cuts has been that increased after-tax corporate profits would be … Continue reading →
Continue readingImpolitical: Dr. Doom on Canada
Nouriel Roubini in the Globe today: What’s your assessment of how well Canada is doing in the current global environment? It’s a mixed picture. The overall fundamentals are better than many advanced economies. The fiscal situation, the balance sheet, is better. The banks have been better regulated. But now, with
Continue readingPolitics and Entertainment: Yeah, right, President Harper and his Stepford Wives Are Such Good Economic Managers
Let me get this straight. This past week we learned that the Harper Regime spent $53.8 million in 2009-10 spinning their “Economic” Action Plan to a gullible populace – a budget that is more than the annual advertising budget for the entire federal government before 2006, the year the Regime took power.
Continue readingImpolitical: Do the Harper wave
Stephen Harper waves goodbye to the jobs in London, Ontario, pictured above. That’s a nice shot. Really captures the sentiment well as an accompaniment to this article: “Tories mum on lockout at plant Harper used to tout corporate tax cuts.” He’s happy to show up for the glory and highly
Continue readingImpolitical: 2012 corporate tax cuts in the spotlight today
Good question posed here: “Will 2012 corporate tax cuts fuel or weaken Canadian economy?” The Canadian Centre for Policy Alternatives says the cuts, which Flaherty’s office claims will take most corporate combined tax rates down to 25% by 2013, will not help the economy nor is there evidence that reductions
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